Bare minimum Mondays. The three types of fraudsters. QBO intricacies. February’s accounting news topics ranged, to say the least. But whether you’re interested in learning if your firm needs a managed cloud approach or you’re looking for a new publication to take your mind off tax season, we’ve got it here. Keep reading for a collection of eclectic topics.
QBO and Backups: If You Don’t Know, Now You Know
RightNetworks.com | February 2, 2023: Did you know that it’s up to you to ensure that your data is backed up and secure? The SaaS provider—in this case, QuickBooks® Online (QBO)—is only responsible for maintaining the security and availability of the platform. You are responsible for the data within the platform.
It’s a slippery slope better explained by “The Shared Responsibility Model.” And it’s even better explained by Lynn Gallin in her new post on the subject, “How Backup Software Works: A Guide for QBO Users.”
In it, Lynn shares:
- What backup software is.
- Why backup software is particularly important to accounting and finance professionals using QBO.
- Which backup software works best with QBO.
What Motivates 3 Types of Fraud Perpetrators
CFODive.com | February 8, 2023: Kelly Richmond Pope—noted author, professor at DePaul University, forensic accounting specialist, filmmaker and CPA—has had the same fundamental belief since her freshman year accounting class.
[Quote] “The person that understands the money is the most powerful person in the room.” – Kelly Richmond Pope
And now, she looks at the people who wield that power a little too strongly: fraudsters. But to protect yourself from the three fraud archetypes—the intentional, the accidental and the righteous—you must understand their motivations first.
Our Favorite Accounting (and Non-Accounting) Publications
RightNetworks.com | February 10, 2023: Was “read more” on your list of 2023 resolutions? Given that it’s only February, there’s still time to make it happen.
Check out which reads accountants (and we) are loving the most so far this year. Topics range from basic accounting principles to pop-culture news. Here’s a sneak preview from one of our recommendations:
“Accounting is ubiquitous and so deeply embedded in our lives that we’ve lost sight of it. It’s become the water that fish will never discover. It’s everywhere in your life, enabling almost everything you do, from catching a bus to building or renting your house to supporting your preferred charity to shopping and saving.” – The Joy of Accounting, 2020
Check out “The Best Books for Accountants to Read” today.
The “Bare Minimum Monday” Work Culture
Fortune.com | February 13, 2023: Quiet quitting. Resenteeism. And now, “bare minimum Monday.” February may be known as the month of love—but word on the street is that morale may be at an all-time low.
On the one hand, proponents of “bare minimum Mondays” say that it’s a way to “quell the work pressure” by “completing the least amount of work necessary to get by that day.” On the other hand…oof. Could any of the above—quietly quitting, resenteeism, bare minimum Mondays—be happening at your firm?
The coverage is indicative of a larger issue: a mass amount of people resenting their jobs. Disliking their workplace. Fretting about task lists. Succumbing to a negative culture instead of changing their circumstances. What’s a firm to do? Rootworks has a ton on this subject.
How to Get a Lower Cyber Insurance Premium
RightNetworks.com | February 13, 2023: Ah, cyber insurance. Yet another line item on the already-lengthy list of things business owners must buy in 2023. And just like all other insurances, it’s something that you don’t think you need…until you really need it.
In short, cyber insurance is there to help cover any financial damages a business incurs if they fall victim to a cyberattack. (Think ransomware, etc.) So, since it’s a necessary expense, are there things that can be done to lower its cost? Yes. Find out what those things are (and learn how to get a free cybersecurity assessment) here.
Are You Taking On Unnecessary Security Risks?
RightNetworks.com | February 13, 2023: Are you taking unnecessary security risks? Chances are, the answer is yes. According to Roman Kepczk, Director of Firm Technology Strategy for Right Networks, fewer than 1% of firms can answer basic cybersecurity questions confidently. That’s…well, it’s startling.
Another group feels that their cybersecurity is handled “adequately.” Yikes! Why aren’t more firms concerned with the biggest threat they’ve ever faced. Yes…we do mean ever.
Learn what Roman’s suggesting all accounting and finance professionals do to get a better understanding of their business’s cybersecurity status.
Is Managed Cloud Right for Your Business?
RightNetworks.com | February 14, 2023: What is “managed cloud hosting,” and how is it different from other cloud providers? Is your business a good candidate?
Find out in Molly Gallaher Boddy’s post on the subject, where she delves into the benefits of a managed cloud approach, including:
- Cost predictability
- Performance improvements
- Infrastructure monitoring
- Holistic security
What Should Client Advisory Services (CAS) Mean to You?
Accounting Today | February 16, 2023: In a new special report from Accounting Today, Darren Root, Chief Strategist at Right Networks, helps bring our point of view to the conversation on how CAS/CAAS should be defined.
Talking about how CAS and CAAS have evolved over his career, Darren says:
“There’s a lot of confusion around the acronym C-A-S and what it means. Years ago, when we talked about CAS we talked about client accounting services, which was essentially glorified bookkeeping. And that was the definition, as I recall it, for CAS for quite some time.”
Darren also notes that in more recent years, the term has evolved to be more client advisory services. “I think there’s a difference between client accounting services and client advisory services.” He also considers client accounting services to be “more compliance in nature” compared with advisory.
Accounting News: Coming in March
Be on the lookout for upcoming webinars, new eBooks and more by visiting our resource center. And keep a lookout for next month’s recap. Expect all the noteworthy news from the accounting and finance profession right here on rightnetworks.com/blog. And don’t forget to subscribe today.